%0 Generic
%T Finance, Comparative Advantage, and Resource Allocation
%A Jaud, Melise
%A Kukenova, Madina
%A Strieborny, Martin
%A Jaud, Melise
%I The World Bank
%K Finanzsektor
%K Institutionelle Infrastruktur
%K Allokation
%K Komparativer Vorteil
%K Internationaler Markt
%K USA
%D 2012
%X The authors show that exported products exit the US market sooner if they violate the Heckscher-Ohlin notion of comparative advantage. Crucially, this pattern is stronger when exporting country has a well-developed banking system, measured by a high ratio of bank credit over the GDP. Banks thus push firms away from exports that are facing an uphill battle on a competitive foreign market due to a suboptimal use of the domestic factor endowment. The results imply a disciplining role for bank credit in terminating inefficient trade flows. This constitutes a new channel through which finance improves resource allocation in the real economy
%C The World Bank
%C Washington, D.C
%U http://slubdd.de/katalog?TN_libero_mab2
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